The Politics of Money

I looked at the last 5,000 years of currency, history of currency. What I found was that usually when you prince money and go beyond your means of turn, it usually ends up with some kind of economic disaster. And so in this case, we've dramatically increased the monetary supply. But even in our recent American history, the spending of the 1960s through the Vietnam War didn't really show up until the late 60s, early 70s,. When he had the great inflation. He doesn't think there's a free lunch. We do need to be very careful about our monetary policy. The situation we are in is not normal.

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